Anti-lock braking system (ABS) is an advanced active braking system used in automobiles, which helps drivers to control their vehicles. It allows wheels of a vehicle to maintain dynamic contact with the road surface, which is proportional to the braking inputs given by the driver. It improves vehicle control and reduces the chances of collision on both dry and slippery surfaces. Automobile companies have equipped their vehicles with anti-lock braking system, traction control system (TCS), electronic brake force distribution (EBD), and electronic stability control (ESC) to offer advanced safety features and improve stability, control, & safety on difficult terrains. According to the Annual Global Road Crash Statistics, nearly 1.3 million people die every year in road crashes; thereby, leading to increase in need for inclusion of vehicular safety and control systems such as ABS in automobiles.
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Key Market Players
- ADVICS CO., LTD.
- Autoliv Inc.
- Continental AG
- Denso Corporation
- Hitachi Automotive Systems Ltd. (a subsidiary of Hitachi ltd.)
- HYUNDAI MOBIS CO., LTD
- Nissin Kogyo Co., Ltd.
- Robert Bosch GmbH
- WABCO
- ZF TRW
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The global ABS market is segment based on sub-system type, vehicle type, and region. Based on sub-system type, the market is divided into sensors, electric control unit, and hydraulic unit. By vehicle type, it is categorized into two wheelers, passenger cars, and commercial vehicles. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Growth in demand for safety features
The demand for safety features such as ABS, traction control, electronic stability control, tire pressure monitors, airbags, and telematics is on rise, owing to increase in number of road accidents around the world. According to the Association of Safe International Road Travel (ASIRT), nearly 1.3 million people die in road crashes each year around the world, with an average 3,287 deaths per day. In addition, road traffic crashes rank as the ninth leading cause of death and account for 2.2% of all deaths globally. Therefore, increase in concern regarding these conditions increase the demand for incorporation of safety features in the vehicles. Thus, automobile companies are focusing toward the production of safety features to be enabled in the vehicles; thereby, driving the growth of the anti-lock braking system market.
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Key Benefits for Anti-lock Braking System Market:
- This study presents the analytical depiction of the global anti-lock braking system market analysis along with the current trends and future estimations to depict the imminent investment pockets.
- The overall anti-lock braking systems market opportunity is determined by understanding the profitable trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the global anti-lock braking systems market with a detailed impact analysis.
- The current ABS market is quantitatively analyzed from 2019 to 2026 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
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